The applicants, shareholders of Eneighbl Inc., brought an application against John Walt, Sylvie Tremblay, and Eneighbl Inc. for various claims including misrepresentation, breach of fiduciary duty, misappropriation, oppression, negligence, unjust enrichment, and breach of contract related to share redemption.
The court dismissed claims of misrepresentation, fraud, fiduciary duty, misappropriation, unjust enrichment, and oppression, finding the applicants were sophisticated investors who made their own decisions despite Mr. Walt's mental health issues and the speculative nature of the business.
However, the court found Mr. Walt liable for breach of contract for failing to redeem the applicants' shares at their original purchase price and for personal loans.
Eneighbl Inc. was found liable for expense reimbursements.
The application against Ms. Tremblay was dismissed entirely.
The court declined to award costs to the successful applicants due to their disingenuous conduct and unproven serious allegations.